Corus posts $65 million loss, new Treehouse service coming

TORONTO – While TV and radio revenues improved and met expectations, charges taken thanks to debt refinancing caused Corus Entertainment to record a $65.7 million loss in the second quarter, ended February 28. "We kept pace with our overall expectations for the year in the second quarter on the strength of our television results," said John Cassaday, president and CEO. "As previously disclosed, we incurred an $80.7 million after-tax debt refinancing cost in the quarter to retire our high-yield notes and now expect to realize interest expense savings of $20 to 25 million per annum". Consolidated revenues for the specialty...